S.C. offering Giti $40M+ in incentives

Comments Email

RICHBURG, S.C. (June 17, 2014) — Giti Tire Group will receive $40 million or more in economic benefits from state, county and local government entities toward the construction of the $560 million car and light truck tire plant the Singapore-based tire maker is planning for Chester County, S.C.

The state’s Coordinating Council on Economic Development approved a $37.8 million grant to help purchase and improve the 1,100-acre site located alongside I-77 in rural Chester County, according to a spokesman for the South Carolina Department of Commerce.

Giti also will receive “job development credits” once the plant reaches the target of 1,700 jobs, the spokesman said, although the value of these credits will depend on the number of jobs and the salary level. These credits, which are designed to help companies offset the cost of locating a facility, buying equipment and training employees, reportedly will last for 10 years.

In addition, the Rural Infrastructure Authority approved a $2 million grant earlier this year to assist with extending water and sewer services to the site.

In addition, local media reported that the Chester County Council approved a “fee-in-lieu ordinance” that will reduce the company’s property taxes. Further details were not available.

Giti also will benefit from assistance from readySC — a division of the South Carolina Technical College System — with recruiting and training the firm’s initial workforce.

Giti, the the predominantly Chinese tire maker, disclosed June 16 it plans to invest $560 million over 10 years to build a 1.8 million-sq.-ft. plant and distribution center in Chester County with a first-phase annual capacity of 5 million tires.

Giti officials declined to say when they expect to break ground, citing the open-ended nature of zoning, industrial and environmental permitting processes.


To reach this reporter: bdavis@crain.com; 330-865-6145. Follow Bruce on Twitter @reifenmensch.


More Polls>

TB Reader Poll

Previous | Published April 9, 2015

What tactic do you use when buying a new vehicle?

I'm loyal to a particular auto dealership and buy from it
I stick to a certain car maker
I look at a number of options and take my time
I research what I want and what I will pay for it
I go out and will buy in the first day or two
I only buy used vehicles

Explore the tire

Pirelli’s newest UHP tire – the P Zero™ All Season Plus